STEMAB: what changed
Two financial years side by side, explained: what moved most in the balance sheet and the result, why the result rose or fell, and where the money went.
STEMAB
Largest movements
- Tangible fixed assets -€19,196
down €19,196 (-3.8%), from €511,076 to €491,880
- Debts after one year -€15,000
down €15,000 (-5.4%), from €275,250 to €260,250
- Accrued charges and deferred income +€8,779
up €8,779 (+27.7%), from €31,727 to €40,506
- Profit (loss) carried forward -€5,849
down €5,849 (-7.2%), from -€81,017 to -€86,866
- Other debts -€5,680
down €5,680 (-3.7%), from €154,189 to €148,509
- Financial charges -€1,368
down €1,368 (-11.1%), from €12,339 to €10,971
- Gross operating margin -€796
down €796 (-2.5%), from €31,989 to €31,193
From the 2024 result to the 2025 result
Each bar is the change in one income-statement line, as its effect on the result: higher costs pull it down, higher income lifts it.
Cash bridge derived
Derived from the 2024 and 2025 balance sheets and the 2025 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €519,275 | €501,399 | -€17,876 | -3.4% |
| Fixed assets | 21/28 | €511,076 | €491,880 | -€19,196 | -3.8% |
| Tangible fixed assets | 22/27 | €511,076 | €491,880 | -€19,196 | -3.8% |
| Land and buildings | 22 | €511,076 | €491,880 | -€19,196 | -3.8% |
| Current assets | 29/58 | €8,199 | €9,520 | +€1,320 | +16.1% |
| Amounts receivable within one year | 40/41 | €6,000 | €6,000 | = | 0.0% |
| Trade receivables | 40 | €6,000 | €6,000 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €2,199 | €3,520 | +€1,320 | +60.0% |
| Total equity and liabilities | 10/49 | €519,275 | €501,399 | -€17,876 | -3.4% |
| Equity | 10/15 | €42,983 | €37,134 | -€5,849 | -13.6% |
| Contributions | 10/11 | €124,000 | €124,000 | = | 0.0% |
| Capital | 10 | €124,000 | €124,000 | = | 0.0% |
| Issued capital | 100 | €124,000 | €124,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€81,017 | -€86,866 | -€5,849 | -7.2% |
| Amounts payable | 17/49 | €476,292 | €464,265 | -€12,027 | -2.5% |
| Amounts payable after more than one year | 17 | €275,250 | €260,250 | -€15,000 | -5.4% |
| Financial debts | 170/4 | €275,250 | €260,250 | -€15,000 | -5.4% |
| Amounts payable within one year | 42/48 | €169,315 | €163,509 | -€5,806 | -3.4% |
| Current portion of amounts payable after more than one year | 42 | €15,000 | €15,000 | = | 0.0% |
| Trade debts | 44 | €126 | €0 | -€126 | -100.0% |
| Suppliers | 440/4 | €126 | €0 | -€126 | -100.0% |
| Other amounts payable | 47/48 | €154,189 | €148,509 | -€5,680 | -3.7% |
| Accrued charges and deferred income | 492/3 | €31,727 | €40,506 | +€8,779 | +27.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €19,196 | €19,196 | = | 0.0% |
| Other operating charges | 640/8 | €6,669 | €6,876 | +€207 | +3.1% |
| Gross operating margin | 9900 | €31,989 | €31,193 | -€796 | -2.5% |
| Operating profit (loss) | 9901 | €6,124 | €5,122 | -€1,003 | -16.4% |
| Financial income | 75/76B | €0 | €0 | +€0 | +66.7% |
| Recurring financial income | 75 | €0 | €0 | +€0 | +66.7% |
| Financial charges | 65/66B | €12,339 | €10,971 | -€1,368 | -11.1% |
| Recurring financial charges | 65 | €12,339 | €10,971 | -€1,368 | -11.1% |
| Profit (loss) for the period before taxes | 9903 | -€6,214 | -€5,849 | +€365 | +5.9% |
| Income taxes | 67/77 | - | €0 | +€0 | |
| Profit (loss) for the period | 9904 | -€6,214 | -€5,849 | +€365 | +5.9% |
| Profit (loss) for the period to be appropriated | 9905 | -€6,214 | -€5,849 | +€365 | +5.9% |
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 12 October 2026 via checked.be.